There is a lot of buzz around some witnesses wanting to decrease the HBD APR from 20% to 12%. While many voice are vehement why this should be done and other why it shouldn't, us as regular users and Hive Power holders on the Hive blockchain we can always unvote the witnesses that do not represent our interest anymore. The power of democracy, the power of decentralization, the power of being a Hive Power holder on the Hive blockchain allows us to cast our witness vote to those that represent our interests the best. And when that doesn't happen or when we are disappointed by them and by their achievements on the blockchain, we can always unvote them and let us take up their rankings. And while I believe that HBD has become a pillar of the Hive economy and is a great tool for steady revenue that brings and keeps many users around, I will start by unvoting some of the witnesses that have lower HBD APR propossals.
One is way to cast your witness vote quite easy is through the PeakD interface. Simply login, land on your page and from the Menu you can select the Witnesses page. There you will have the list of Witnesses with some filters that you can apply to: Active, Disabled/Stale and Approved. This offers a simple aggregated view on the most important parameters broadcasted by the Witnesses from where one can make decisions and support one witness or the other.
While I have supported @blocktrades witness for a long time, I have decided to unvote it while having a 12% APR on HBD. In the same time I have moved on and un-casted other votes for the Witnesses offering low APR on the HBD, Hive's stablecoin.
In the end I've got a list of Witnesses that I support which are standing by a 20% APR interest on HBD. And I am glad that @leofinance is one of them and that is quite active in this medium. In the same time I now realized that the @leofinance witness is ranking 27 and that's quite close to Top 20 witnesses and who knows, maybe this year they will climb the top and develop more projects benefiting the Hive ecosystem.
In conclusion, while there is a lot of buzz on lowering or not the HBD APR from 20% to 12% or differently, always consider that you also have the Power to support one Witness or the other who represents your interests better. Because in the end this is the power of true decentralization and the ability for us to chose who represent us. This is the way!
Posted Using LeoFinance Alpha
Indeed, people need to use their stake more active for governance.
Another criterion to select is also which witness is powering down and which not.
E.g. this tool https://hive.arcange.eu/witnesses/ shows it at one glance.
Of note, I never ever powered down a single Hive in the last 6 years 😄.
Great tool and good point on supporting witnesses that are 100% in the game. This is why you are on my Witnesses upvoted list ;)
Thanks so much!
Really 😬 not even one 😅
Thanks for the heads up, I just revised my votes for witness. IF we want to attract new users, a strong APR on HBD savings is crucial.
Quite true and until there is any financial math jeopardy, we should leave it as is. But I think we have strong mechanics behind it to support the 20% APR.
Even if that may happen... The 20 to 12 drop.... It would still be amazing APR!
!PIZZA
!LUV
Indeed, 12% APR would still beat the banks of even stocks yields.
I for one do not support the view that 20% should continue.
I prefer to sacrifice profits for stability
should go down gradually I will support those who have that way of thinking so 😔.
Yo por mi parte no apoyo la visión de que siga el 20%
Prefiero sacrificar ganancias por estabilidad
debería bajar gradualmente apoyaré a los que tienen esa forma de pensar así que 😔
If there is a real stability issue I agree, but that should be settled and clarified before taking one way or the other. Would love to see a Top 20 Witnesses AMA on the topic. :)
A lot of people are actually not cool with the reduction of the HBD APR but do you think there is anything we can do?
Cast our witnesses votes against those wanting to lower it. We have the power to do so and if they will get out of Top 20, the Consensus will remain on 20% APR for HBD.
Seems to me like you are missing some witnesses. Scroll down more a bit :)
Got me on that, but here it is ;)
Thank you. Appreciated!
I am also not in support of lowering the HbD APR, going to check my witness votes after commenting on your post. I am going to unsupport those who are in support of low APR.
That's one criteria and we have the power to chose who we do support. Cheers!
Yes, I have changed and voted for the ones who I think I should be supporting.
Thanks for the information on how to vote for witnesses. I've been around a while but only with limited investment in the whole system. Aside from a higher interest rate that looks more attractive to the average user, what other benefits are there of keeping the APR at 20% compared to anything lower? I know that more HBD means there would be more demand for Hive if people want to cash in their HBD, but does it do anything to affect the day-to-day value of Hive or HP while it's in savings?
First of all HBD is a great bonds like financial instrument that is appealing to investors that are not so much in the blogging, but rather passive returns. There are many other benefits from it and @taskmaster4450 has many posts revealing them better than I could do it in a comment :)
Thanks, I will check out some of their stuff.
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